Retiring in Florida- Is it still a thing?

Warm weather and gorgeous scenery; a low cost of living; no income, inheritance, or estate tax; the widespread availability of healthcare; and plenty of ways to recreate are a handful of the reasons why seniors flock to “The Sunshine State.” But does the reality live up to its reputation? Let’s take a closer look at a recent government report weighing in on where seniors are retiring, along with what it means for the state of senior housing.

Top Retirement States for Seniors

Published by the Federal Interagency Forum on Aging-Related Statistics, “2016 Older Americans Key Indicators of Well-Being” evaluates a comprehensive range of data regarding the country’s 65 and over population.

Among its noteworthy findings? Retiring in Florida indeed lives up to its reputation. Not only is it home to the highest percentage of older adults, but they comprise just under 20 percent of its population. Sumter County, in particular, came out on top — hardly a surprise, given that it’s home to The Villages — the world’s largest retirement community with a population approaching 160,000.

Retiring in Florida is still going strong.

While Florida was the clear victor, it was hardly alone in claiming a significant proportion of seniors. Maine trailed behind with just over 18 percent; followed by West Virginia (18 percent); Vermont (17 percent); Montana (17 percent); Pennsylvania (17 percent); Delaware (16 percent); Hawaii (16 percent); and Oregon (16 percent). Puerto Rico also demonstrated a strong showing of seniors at 17 percent.

Related: Best Beach Towns in America for Retirement

States coming in with the lowest percentages of seniors, meanwhile, were Alaska (9 percent); Utah (10 percent); District of Columbia (11 percent); Texas (11 percent); and Georgia (12 percent).

The Impact on Senior Housing

Given the country’s aging population and Florida’s status as an epicenter of older adults, the present and future of senior housing — and assisted living, in particular — is the subject of significant scrutiny.

According to statistics shared by the Florida Health Care Association, there are approximately 683 nursing homes in Florida accounting for more than 83,500 beds at a median annual cost of $87,600 for a semi-private room and $96,725 for a private room. There are an additional 3,089 licensed assisted living communities in Florida representing roughly 92,000 beds at a median annual cost of $37,800. While Medicare and Medicaid pay for some of the costs of long-term care, nearly 40 percent are covered by private funds.

These numbers are expected to rise in relation to the aging population at large: the population of senior Americans is predicted to double by the year 2026. Of these, nearly 70 percent will likely require some form of long-term care.

But how, specifically, do experts think the future of senior living will look — both in Florida and elsewhere? According to industry experts who recently convened at the Assisted Living Federation of America’s Senior Living Executive conference in Tampa, American viewpoints on senior living are evolving, and offerings are evolving in order to provide different options along the care continuum.

Related: The Future of Senior Care: Villages and Robots

Additionally, more collaboration is also anticipated between senior living communities and hospitals, physician practices, home healthcare agencies, and other healthcare entities. And certainly, the options in Florida are abundant thanks to a combination of highly-ranked hospitals and well-known hospital brands with presences in the state.

While the recession found many Americans rooted in place, the rebounding of the economy has led to a spike in senior migration rates. With the Sunshine State continuing to draw the majority of movers, Florida is not only likely to experience greater demand for senior living options, but is also uniquely positioned to meet these rising needs.

For more like this from senior housing to legal and financial help for seniors, be sure sign up for our mailing list.